Crisis: Martes 9: apertura de Oriente

“Weaker U.S. growth fundamentals and a synchronized global slowdown would affect China and Hong Kong’s exports — Hong Kong’s in particular, given that its exports are 33% of gross domestic product on a value-added basis, versus 18% for China,” said strategists at Daiwa Securities.

Also weighing on the global economic outlook, China said shortly after the Chinese market open that its July consumer price index inflation hit 6.5%, accelerating from a 6.4% year-on-year rise in June, and above a 6.3% average forecast from a Dow Jones Newswires survey of economists. Read more on China data

In remarks ahead of the data, RBC strategists said the numbers were “particularly important, as investors still seem split over whether China is facing a hard or soft economic landing and whether/ on what scale the People’s Bank of China hikes rates again.

The RBC strategists added: “All eyes will now shift to the Federal Reserve’s Federal Open Market Committee meeting Tuesday, with the market looking for any guidance/signals on the possibility of the Fed injecting any further monetary stimulus to help stem the current global growth confidence crisis.” Read Federal Reserve meeting preview.